Sokoman Iron Announces $3 Million Financing Led BY Eric Sprott
SOKOMAN IRON ANNOUNCES $3 MILLION FINANCING LED BY ERIC SPROTT
Puslinch, ON, July 30, 2018 - Sokoman Iron Corp. (‘Sokoman’ or ‘the Company’) (TSX-V: SIC) is
pleased to announce that it intends to complete a non-brokered private placement consisting of
20,000,000 Units at a price of $0. 15 per Unit for gross proceeds of up to $3,000,000, subject to
approval of the TSX Venture Exchange. Each Unit will consist of one common share ("Common
Share") and one Common Share purchase warrant ("Warrant"). Each Warrant is exercisable into one
Common Share at a price of $0.25 per share for a period of two years from closing. There are three
placees, Eric Sprott will subscribe for 13.35 million Units, Palisade Global will su bscribe for 4.1
million Units, and Venture Ad Network will subscribe for 2.6 million Units. There are no finder s fees
associated with the transaction.
Timothy Froude, P. Geo., President and CEO, states: “ We are very pleased to welcome Eric Sprott and
Palisade Global into our family of shareholders. Eric Sprott is a renowned and respected leader in the
investment community and one of the world’s premiere precious metals investors and is currently
Chairman of Kirkland Lake Gold. His participation in our fina ncing speaks to the potential of our
assets, in particular the high -grade Moosehead Gold Project . Palisade Global is a leading entity in
finance and development of mining interests around the world and will help advise Sokoman in
delivering our story to a global audience.”
The proceeds of the financing will be used to advance the Company’s flagship Moosehead Gold Project
where multiple targets remain untested as well as follow up drilling following a successful Phase I
program. A portion of the funds will be directed to the Company’s other gold properties in
Newfoundland, and for general working capital purposes.
Qualified Person
This news release has been reviewed and approved by Timothy Froude, P. Geo., a "Qualified Person"
under National Instrument 43-101 and President and CEO of Sokoman Iron Corp.
About Sokoman Iron Corp.
Sokoman Iron Corp. (TSXV: SIC) is a discovery -focused company with projects in Newfoundland &
Labrador, Canada. The Company’s primary focus is its Moosehead Gold project in ce ntral
Newfoundland where recent drilling in the Eastern Trend area has returned high-grade gold results from
MH-18-01 highlighted by 11.90 m @ 44.96 g/t Au including 5.65 m @ 93.56 g/t Au released on July
24, 2018. (Note: reported intersection is a core le ngth, true thickness estimated to be 80% of core
length). The Company ’s other assets include a portfolio of early stage gold projects in Central
Newfoundland and a 100% interest in the Iron Horse (Fe/V/REE) project in Western Labrador.
Contact:
Timothy Froude, P. Geo., CEO Phone: 709-765-1726 Email: [email protected]
Cathy Hume, Director Phone: 416-868-1079 Email: [email protected]
Website: www.sokomaniron.com
Neither the TSX Venture Exchange nor its Regulation Services P rovider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this
release.
Investors are cautioned that trading in the securities of the Corporation should be considered highly
speculative. Except for historical information contained herein, this news release contains forward-
looking statements that involve risks and uncertainties. Actual results may differ materially.
Sokoman Iron Corp. will not update these forward- looking statements to reflect events or
circumstances after the date hereof. More detailed information about potential factors that could
affect financial results is included in the documents filed from time to time with the Canadian
securities regulatory authorities by Sokoman Iron Corp.